Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30falsetrue2022-07-01No description of principal activity32trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08105592 2022-07-01 2023-06-30 08105592 2021-07-01 2022-06-30 08105592 2023-06-30 08105592 2022-06-30 08105592 c:Director2 2022-07-01 2023-06-30 08105592 d:FurnitureFittings 2022-07-01 2023-06-30 08105592 d:FurnitureFittings 2023-06-30 08105592 d:FurnitureFittings 2022-06-30 08105592 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 08105592 d:FreeholdInvestmentProperty 2023-06-30 08105592 d:FreeholdInvestmentProperty 2022-06-30 08105592 d:CurrentFinancialInstruments 2023-06-30 08105592 d:CurrentFinancialInstruments 2022-06-30 08105592 d:Non-currentFinancialInstruments 2023-06-30 08105592 d:Non-currentFinancialInstruments 2022-06-30 08105592 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 08105592 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 08105592 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 08105592 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 08105592 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 08105592 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-06-30 08105592 d:ShareCapital 2023-06-30 08105592 d:ShareCapital 2022-06-30 08105592 d:RevaluationReserve 2023-06-30 08105592 d:RevaluationReserve 2022-06-30 08105592 d:InvestmentPropertiesRevaluationReserve 2022-07-01 2023-06-30 08105592 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 08105592 d:RetainedEarningsAccumulatedLosses 2023-06-30 08105592 d:RetainedEarningsAccumulatedLosses 2022-06-30 08105592 c:FRS102 2022-07-01 2023-06-30 08105592 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 08105592 c:FullAccounts 2022-07-01 2023-06-30 08105592 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 08105592 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 08105592 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 08105592 2 2022-07-01 2023-06-30 08105592 5 2022-07-01 2023-06-30 08105592 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 08105592










SURREY HILLS PROPERTY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
SURREY HILLS PROPERTY LIMITED
REGISTERED NUMBER: 08105592

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,360
15,614

Investment property
 5 
850,000
850,000

  
864,360
865,614

Current assets
  

Debtors: amounts falling due within one year
 6 
26,389
8,601

Cash at bank and in hand
  
12,582
48,003

  
38,971
56,604

Creditors: amounts falling due within one year
 7 
(17,726)
(26,036)

Net current assets
  
 
 
21,245
 
 
30,568

Total assets less current liabilities
  
885,605
896,182

Creditors: amounts falling due after more than one year
 8 
(631,514)
(631,514)

Provisions for liabilities
  

Deferred tax
 10 
(46,956)
(35,686)

  
 
 
(46,956)
 
 
(35,686)

Net assets
  
207,135
228,982


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
 11 
198,091
209,361

Profit and loss account
 11 
8,944
19,521

  
207,135
228,982


Page 1

 
SURREY HILLS PROPERTY LIMITED
REGISTERED NUMBER: 08105592
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
P J Burch
Director

Date: 17 March 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SURREY HILLS PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

The company, which was incorporated and registered in England and Wales (registered number 08105592), is a privately owned company limited by shares. The registered office address is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
SURREY HILLS PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
SURREY HILLS PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
SURREY HILLS PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

  
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of  financial assets and liabilities like trade and other debtors and creditors, loans from banks and other  third parties, loans to related parties and investments in ordinary shares.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 2).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 July 2022
53,169


Additions
1,280



At 30 June 2023

54,449



Depreciation


At 1 July 2022
37,555


Charge for the year on owned assets
2,534



At 30 June 2023

40,089



Net book value



At 30 June 2023
14,360



At 30 June 2022
15,614

Page 6

 
SURREY HILLS PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 July 2022
850,000



At 30 June 2023
850,000

The 2023 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
604,953
604,953

604,953
604,953


6.


Debtors

2023
2022
£
£


Trade debtors
1,095
575

Amounts owed by related parties
17,289
-

Other debtors
7,645
7,645

Prepayments and accrued income
360
381

26,389
8,601


Page 7

 
SURREY HILLS PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Payments received on account
7,620
6,420

Trade creditors
97
97

Amounts owed to related parties
-
15,522

Corporation tax
5,852
2,046

Other creditors
2,206
-

Accruals and deferred income
1,951
1,951

17,726
26,036



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
631,514
631,514

631,514
631,514



9.


Loans


2023
2022
£
£



Amounts falling due after more than 5 years

Bank loans
631,514
631,514


Page 8

 
SURREY HILLS PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

10.


Deferred taxation




2023


£






At beginning of year
(35,686)


Charged to profit or loss
(11,270)



At end of year
(46,956)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Capital gain
(46,956)
(35,686)

(46,956)
(35,686)


11.


Reserves

Investment property revaluation reserve

This reserve represents the non-distributable element of the profit and loss account.  It is the accumulated gains and losses on the fair value adjustment of the investment property.

Profit and loss account

This reserve represents the accumulated distributable reserves of the company.
 
Page 9